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Un modelo de Uso Eficiente de las Infraestructuras Públicas

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Author Info
Rafaela Mª Pérez Sánchez () (Departamento Fundamentos Análisis Económico I, Universidad Complutense)

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Abstract

This paper designs a general equilibrium model with a public sector which builds up public infrastructure. Public consumption expenditure is necessary for an efficient use of public physical capital, so there exists a productive effect for such type of public spending. The normative results derived from this framework are then confronted to the standard non-productive public consumption model. Under the assumption of efficient public consumption, the percentage of total public expenditure that must be allocated to consumption is strictly positive. This optimal percentage is obtained from the equilibrium between two opposite effects led by public consumption on public physical capital: a positive efficiency effect and a negative crowding-out effect.

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Paper provided by Universidad Complutense de Madrid, Facultad de Ciencias Económicas y Empresariales in its series Documentos del Instituto Complutense de Análisis Económico with number 0215.

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Date of creation: 2002
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Handle: RePEc:ucm:doicae:0215

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  6. Charles R. Hulten, 1996. "Infrastructure Capital and Economic Growth: How Well You Use It May Be More Important Than How Much You Have," NBER Working Papers 5847, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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  14. Ambler, Steve & Paquet, Alain, 1996. "Fiscal spending shocks, endogenous government spending, and real business cycles," Journal of Economic Dynamics and Control, Elsevier, vol. 20(1-3), pages 237-256. [Downloadable!] (restricted)
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  19. Kevin J. Lansing, 1998. "Optimal Fiscal Policy in a Business Cycle Model with Public Capital," Canadian Journal of Economics, Canadian Economics Association, vol. 31(2), pages 337-364, May.
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